Pioneers Holding’s profit drops 27% in H1-20

Revenues shrank to $266mln in the January-June period

  

Cairo – The net profits of Pioneers Holding Company for Financial Investment fell by 26.6% year-on-year (YoY) to EGP 800.9 million in the first half (H1) of 2020, compared to EGP 1.09 billion, including minority shareholders’ rights.

The company’s revenues shrank to EGP 3.57 billion in the January-June period from EGP 6.9 billion in the year-ago period, according to a bourse disclosure on Sunday.

In addition, the company logged standalone net profits of EGP 173.9 million in H1-20, against net losses of EGP 124.27 million in H1-19.

During the first three months of the year, Pioneers Holding’s net profits slid to EGP 271.27 million from EGP 456.79 million in the corresponding period a year earlier.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2020 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Equities